Article date: 5 July 1999
CGU Life, one of the UK's leading life and pensions companieshas strengthened its distribution through the acquisition of 49estate agency branches from the Halifax.
The deal enhances the position of the estate agency networkas a distributor of savings, investments and protection productsand as a major mortgage adviser.
The consideration for the deal is immaterial in the context ofthe Group's assets
Notes to Editors
- CGU Life, part of CGU plc, is the UK's sixth largest life andpensions company and has £30 billion under management on behalf of4 million customers.
- CGU's estate agency division trades under the name GeneralAccident Property Services ("GAPS") and has more than 300 branchesthroughout the UK.
- Life and savings sales through GAPS were 26% higher at £10m in1998, measured by NAPI (new annual premiums plus a tenth of newsingle premiums and investment products).